Philadelphia Financial Management of San Francisco LLC Invests $11.94 Million in Legacy Housing Corporation $LEGH

Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Legacy Housing Corporation (NASDAQ:LEGH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 454,425 shares of the company’s stock, valued at approximately $11,937,745. Legacy Housing makes up approximately 0.0% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 8th biggest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 1.91% of Legacy Housing as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP grew its stake in Legacy Housing by 2.5% in the fourth quarter. First Trust Advisors LP now owns 28,712 shares of the company’s stock valued at $560,000 after acquiring an additional 702 shares during the period. Legal & General Group Plc lifted its holdings in Legacy Housing by 8.0% in the 3rd quarter. Legal & General Group Plc now owns 9,671 shares of the company’s stock worth $266,000 after purchasing an additional 713 shares in the last quarter. Quarry LP bought a new position in Legacy Housing during the 3rd quarter worth about $26,000. Barclays PLC boosted its holdings in Legacy Housing by 8.8% in the fourth quarter. Barclays PLC now owns 13,394 shares of the company’s stock valued at $261,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Legacy Housing by 8.3% in the fourth quarter. Invesco Ltd. now owns 16,927 shares of the company’s stock valued at $330,000 after purchasing an additional 1,291 shares during the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

Legacy Housing Trading Down 0.1%

Shares of NASDAQ LEGH traded down $0.03 during mid-day trading on Friday, hitting $28.34. The company had a trading volume of 67,397 shares, compared to its average volume of 102,935. The stock’s 50-day moving average price is $27.00 and its 200-day moving average price is $23.61. The company has a market capitalization of $673.93 million, a price-to-earnings ratio of 13.06 and a beta of 0.78. Legacy Housing Corporation has a 1 year low of $18.28 and a 1 year high of $31.34.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The business had revenue of $66.35 million for the quarter, compared to analyst estimates of $64.08 million. As a group, equities research analysts forecast that Legacy Housing Corporation will post 2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. B. Riley Financial reiterated a “neutral” rating on shares of Legacy Housing in a research report on Thursday, May 14th. Wall Street Zen cut shares of Legacy Housing from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Weiss Ratings raised Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Finally, Zacks Research cut Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.00.

About Legacy Housing

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.